Stifel maintains Buy on Neurocrine stock, reiterates $166 target

On Tuesday, Stifel analysts maintained a Buy rating on Neurocrine Biosciences (NASDAQ:NBIX) with a steady price target of $166.00. Their optimism aligns with InvestingPro data showing the company is currently undervalued, with analyst targets ranging from $115 to $192. The company, now valued at $12.2 billion, has demonstrated strong recent performance, highlighted by two key products that exceeded market expectations. Ingrezza, a treatment for tardive dyskinesia, showed a robust quarter with management expressing confidence in the drug’s fundamentals and noting a record number of new patient additions. This positive development follows a period of caution from the company, making the strong results particularly notable.

Neurocrine Biosciences’ management has invested in improving drug access through contracting efforts, which have begun to yield visible results. The company maintains a healthy financial position with a current ratio of 3.4, indicating strong liquidity. Additionally, the company’s new product, Crenessity, has had an impressive start with over 400 patient start forms recorded, far surpassing the anticipated 200-250 range expected by investors. According to InvestingPro, the company’s overall financial health score is rated as GREAT, supported by moderate debt levels and strong cash flow metrics. This strong demand for Crenessity has led Stifel analysts to increase their sales projections for the drug for the years 2025 and 2026.

The company’s strategic investments and the successful launch of Crenessity have positioned Neurocrine Biosciences favorably in the market. With impressive revenue growth of 24.8% over the last twelve months and projected growth of 13% for FY2025, the company shows strong momentum. Analysts at Stifel expect Ingrezza’s growth to be approximately $90 million from the first quarter to the second quarter of 2025, while still staying within the company’s guidance for the year. For deeper insights into Neurocrine’s growth potential and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro, which covers this and 1,400+ other top US stocks.

Neurocrine Biosciences’ stock performance reflects these positive developments, with the company’s management and product portfolio demonstrating strong potential for continued growth. The reaffirmed Buy rating and price target by Stifel analysts underscore their confidence in the company’s direction and market performance.

In other recent news, Neurocrine Biosciences reported first-quarter 2025 earnings that exceeded expectations, with a diluted non-GAAP EPS of $0.70 and revenue of $572.6 million. These results surpassed Wall Street estimates of $0.54 EPS and $559.6 million in revenue. The company reaffirmed its 2025 guidance for Ingrezza, projecting sales between $2.5 billion and $2.6 billion, suggesting approximately 10% growth at the midpoint. Several analysts have adjusted their price targets for Neurocrine Biosciences following these developments. RBC Capital Markets increased their target to $145, citing strong sales momentum for Ingrezza and a promising launch for Crenessity. BMO Capital Markets raised their target to $115, acknowledging the impressive early performance of Crenessity, while Piper Sandler lowered their target to $154 but maintained an Overweight rating, anticipating prescription growth for Ingrezza. Needham also slightly increased their target to $139, reflecting optimism about Ingrezza’s continued growth. Evercore ISI raised their target to $190, highlighting strong new patient starts for Ingrezza and the success of Crenessity, which exceeded expectations.

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